Niraj Cement Structurals Limited — Others, 13-08-2025: Statement of deviation(s) or variation(s) under Reg. 32

Niraj Cement Structurals confirmed no deviation in the utilization of Rs. 103.56 Crore raised via its Preferential Issue. The funds, earmarked for working capital, subsidiary investment, and general corporate purposes, have been deployed as stated. While total utilized amounts are lower than original allocations, this is a proportional adjustment due to the issue being undersubscribed, as per initial disclosures. This signals transparent fund management, which is positive for shareholder confidence.